Revance Therapeutics Sees Unusually High Options Volume (NASDAQ:RVNC)

Revance Therapeutics, Inc. (NASDAQ:RVNC) saw unusually large options trading on Monday. Investors acquired 2,392 put options on the company. This is an increase of approximately 144% compared to the average daily volume of 981 put options.

Analysts Set New Price Targets

Several research firms recently weighed in on RVNC. William Blair reissued a “market perform” rating on shares of Revance Therapeutics in a research report on Monday, August 12th. Needham & Company LLC reissued a “hold” rating on shares of Revance Therapeutics in a research report on Monday. Barclays reissued an “equal weight” rating and set a $7.00 price objective (down previously from $10.00) on shares of Revance Therapeutics in a research report on Friday, September 13th. Stifel Nicolaus cut their price objective on Revance Therapeutics from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, HC Wainwright cut Revance Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 13th. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.29.

Revance Therapeutics Stock Performance

Shares of RVNC stock traded up $1.21 during trading hours on Monday, hitting $5.91. The company had a trading volume of 7,175,789 shares, compared to its average volume of 2,752,941. Revance Therapeutics has a 12 month low of $2.30 and a 12 month high of $9.74. The firm has a market capitalization of $619.49 million, a price-to-earnings ratio of -1.86 and a beta of 0.98. The firm’s fifty day moving average is $5.85 and its 200 day moving average is $4.30.

Revance Therapeutics (NASDAQ:RVNC) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.12. The company had revenue of $65.39 million during the quarter, compared to the consensus estimate of $66.30 million. During the same quarter in the prior year, the company posted ($0.80) earnings per share. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, sell-side analysts expect that Revance Therapeutics will post -1.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Revance Therapeutics

A number of large investors have recently bought and sold shares of the business. Capital World Investors grew its position in Revance Therapeutics by 16.8% during the 1st quarter. Capital World Investors now owns 13,945,535 shares of the biopharmaceutical company’s stock worth $68,612,000 after acquiring an additional 2,006,459 shares during the last quarter. Vanguard Group Inc. grew its position in Revance Therapeutics by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 5,398,406 shares of the biopharmaceutical company’s stock worth $26,560,000 after acquiring an additional 328,781 shares during the last quarter. Stonepine Capital Management LLC grew its position in Revance Therapeutics by 41.7% during the 2nd quarter. Stonepine Capital Management LLC now owns 2,800,000 shares of the biopharmaceutical company’s stock worth $7,196,000 after acquiring an additional 823,658 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Revance Therapeutics by 43.0% during the 2nd quarter. Federated Hermes Inc. now owns 2,237,505 shares of the biopharmaceutical company’s stock worth $5,750,000 after buying an additional 672,803 shares in the last quarter. Finally, Opaleye Management Inc. acquired a new position in Revance Therapeutics during the 1st quarter worth $3,862,000. 97.70% of the stock is currently owned by institutional investors.

About Revance Therapeutics

Revance Therapeutics, Inc, a biotechnology company, engages in the development, manufacture, and commercialization of neuromodulators for various aesthetic and therapeutic indications in the United States and internationally. The company’s lead drug candidate is DAXXIFY (DaxibotulinumtoxinA-lanm) for injection for the treatment of glabellar lines and cervical dystonia; has completed phase II clinical trials to treat upper facial lines, moderate or severe dynamic forehead lines, and moderate or severe lateral canthal lines; and has completed Phase II clinical trials for the treatment of adult upper limb spasticity and plantar fasciitis.